Nvidia is currently holding a press conference for their new flagship graphics card and have announced a new variant of the popular GTX 1080 brand of cards. This is the rumored GTX 1080 Ti which has now been officially revealed and its performance has been compared to the current GTX 1080.

Nvidia CEO revealed the details about the new GTX 1080 Ti in a live press conference. The latest addition to Nvidia graphics card is 35% faster than the GTX 1080.

The specs of GTX 1080Ti has 11 GB of VRAM and provides a 35% boost over its predecessor, GTX 1080. Full specs along with images can be seen below.

This news also came with the announcement that the official price of GTX 1080 will be now dropped to $499. As for the price of the new Geforce GTX 1080 Ti, it will retail for $699 which appears to be closer to the old price of GTX 1080. If you bought a GTX 1080 recently, perhaps it is time to sell the card and jump to the new one.

Nvidia Geforce GTX 1080Ti is set to release next week although no exact date was given by Nvidia. It will be interesting to see what AMD has to counter this new move from Nvidia.